[Congressional Record Volume 155, Number 73 (Wednesday, May 13, 2009)]
[House]
[Page H5491]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          YEAR OF THE BAILOUT

  (Mr. TIAHRT asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. TIAHRT. Mr. Speaker, last year should be remembered as the year 
of the bailout. This year is not much better under the current 
leadership in Washington. Incredibly, banks that want to repay the 
money they got from the Troubled Asset Relief Program, or TARP, as it 
is referred to, are being stopped by the Obama administration from 
repaying the funds.
  After accepting TARP bailout funds and, in some cases being forced to 
accept bailouts, many banks have had enough and they are ready to 
return the money. You would think that would be easy, but the 
government won't let them pay back the TARP funds. The vague guidelines 
provided by the Obama administration for returning TARP funds are 
creating a regulatory uncertainty that is bad for our economy and bad 
for us taxpayers.
  We deserve to get the bailout money back from the banks as quickly as 
possible, which is why I have introduced the Bailout Freedom Act to 
ensure sure we have a clear and timely process for making that happen. 
Once banks are certified to be well capitalized by the regulators, the 
Federal Government should allow the TARP bailout funding to be paid 
back.
  From the beginning, I have opposed the bailouts and the growing 
encroachment of the Federal Government in our daily lives. Now we must 
reverse that course of the current trend and allow TARP bailout funding 
to be paid back.
  Please join me in supporting the Bailout Freedom Act.

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